Reply To: Traders Market Weekly: The Fed, BoE and SNB and a Leaky Dyke…


Dow -139.63 at 32106.83, Nasdaq +49.85 at 11767.12, S&P -2.84 at 3958.71

Today’s trade looks pretty similar to other recent sessions so far. Regional bank stocks are under pressure again after First Republic Bank (FRC 28.90, -5.29, -15.2%) provided a cash position update and suspended its dividend while strong leadership from the mega cap space has limited downside moves for the main indices.

The Vanguard Mega Cap Growth ETF (MGK) is up 0.5% versus a 0.6% loss in the Invesco S&P 500 Equal Weight ETF (RSP).

Mega cap leadership can be seen in S&P 500 sector performance.

Information technology (+0.4%) and communication services (+0.3%) are the lone outperformers in positive territory.

Financial sector (-2.3%) is buried in last place by a wide margin, followed by materials (-0.7%) and industrials (-0.8%).